Trusts, Settlements and Estates Manual

Deceased persons: tax reliefs for personal representatives

Personal representatives are liable to tax either at the basic rate, savings rate (for years where this rate applies)or the dividend rate on any chargeable income. They are entitled to claim general tax reliefs. These are tax reliefs that are not restricted to individuals or companies. Examples of these reliefs are

loss relief where the personal representatives are conducting a business

interest paid on a loan for the purchase of the deceased’s private residence where the loan is not within MIRAS (Re385) (up to 5 April 2000)